money digest


Go for Google

Google on Tuesday closed its $3.1 billion takeover of online advertising broker DoubleClick after the European Commission earlier in the day gave the green light for it without conditions. The clearance marks a setback to rivals Yahoo and Microsoft, who argued that the deal would reinforce Google's dominant position on the Internet. DoubleClick is the world's No. 1 broker of online banner advertising.

Charter moves

Charter Communications said Tuesday that CFO Jeffrey Fisher has resigned, effective April 4. The cable operator controlled by Paul Allen named Eloise Schmitz interim CFO. Charter also said in a regulatory filing that "various parties" have informally approached it about possible investments or transactions. The company also said it plans to borrow $275 million in term loans and issue $500 million in notes to boost its liquidity amid renewed recent talk that it could face a credit crunch next year.

Grid funding

GridNetworks, which allows companies to stream TV and film content with high-definition clarity to a PC or TV via the Internet, has closed a $9.5 million funding round, with Cisco Systems serving as a strategic investor. The company said it plans to use the capital injection to further develop its technology.